Bitcoin Cash ends the trading week at 218.73 and continues to move as part of a bullish correction. Moving averages indicate a bearish trend. Prices pierced the area between the signal lines down, indicating pressure from the sellers of the coin. As part of the forecast for the BCH/USD rate for the next trading week, we should expect an attempt to reduce the value of the digital asset and test the support area near the level of 115.05. Where again, a rebound and an attempt to grow Bitcoin Cash with a potential target above the level of 425.05 are expected.
Bitcoin Cash Forecast and Analysis March 23 — 27, 2020
An additional signal in favor of reducing BCH/USD quotes in the current trading week March 23 — 27, 2020 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish «Wolfe Wave» model. Cancellation of the option of falling Bitcoin Cash cryptocurrency will be a strong growth and a breakdown of the area of 85.05. This will indicate a breakdown of the support area and a continued decline in BCH/USD quotes from the target below the level of 35.05. A confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 285.05.
Bitcoin Cash Forecast and Analysis March 23 — 27, 2020 implies an attempt to test the support area near the level of 115.05. Then continued growth to the area above the level of 425.05. An additional signal in favor of the rise in Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 85.05. This will indicate a continued decline in cryptocurrency with a target below the level of 35.05.